Highlights

•16-Room Motel with On-Site Food Mart •New Roof Installed in 2018 •Spacious 0.28-Acre Parcel with Redevelopment Potential •Favorable Seller Financing Available •Located Within 50 Yards of Public Beach Access •Consistently Operated by the Same Owner for 35+ Years

Description

The Palms on Ocean presents a rare investment opportunity in the sought-after Hillsboro Shores submarket of South Florida. This property consists of a 16-room motel paired with a fully operational Food Mart, offering multiple revenue streams in the heart of Pompano Beach. Built in 1954, the two-story motel has been meticulously maintained, featuring guest rooms that consistently attract vacationers just steps away from the Atlantic shoreline. The Food Mart further boosts income by catering to guests and locals with snacks, drinks, and beach essentials. Guests also enjoy a serene pool area, enhancing the property’s appeal as a relaxing coastal getaway. Situated on nearly 0.3 acres, the property offers room for future improvements or redevelopment. Significant upgrades include a new flat roof (2018), resurfaced parking lot, impact-resistant windows, and efficient mini-split air-conditioning units in roughly one-third of the rooms. Half of the guest rooms have been renovated with new kitchens, bathrooms, and flooring, driving higher occupancy and guest satisfaction. Owned and operated by the same owner since 1990, the motel demonstrates stability and strong management with a loyal customer base. Its strategic location ensures steady demand, surrounded by South Florida’s thriving tourism amenities. Guests benefit from proximity to Pompano Beach Pier, Hillsboro Inlet Lighthouse, Pompano Community Park, and the popular Pompano Beach Amphitheater. The surrounding area continues to grow, with luxury condominium developments (CasaMar, Solemar, Waldorf Astoria Residences), new dining venues, and upgraded beachfront attractions fueling consistent visitor traffic. In addition to its strong location and recent renovations, the property comes with attractive seller financing—50% loan-to-value (LTV) at 5.5% interest-only monthly payments for five years—offering flexible terms for investors. Combining coastal charm, proven profitability, and growth potential, The Palms on Ocean is a highly compelling addition to any real estate investment portfolio.

Listing Details

  • Cap Rate

    6.97%

  • Space Type

    Hospitality

  • Sub Category

    Hotel

  • Date Listed

    8/18/2025

Property Specifics

  • Property Name

    The Palms on Ocean

  • No of Units

    16